Economy

Sensex zooms over 250 points, Nifty nears 9900-mark

Sensex zooms over 250 points, Nifty nears 9900-mark”

The benchmark BSE Sensex surged almost 300 points in the opening trade on Tuesday as Finance Minister Arun Jaitley had on Sunday indicated that the government would consider reducing the goods and services tax slabs and easing compliance burden for small taxpayers once revenues from GST better those from the previous tax regime.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,537.81 points, closed at 31,497.38 points - up 213.66 points, or 0.68 per cent.

Tata Motors was trading higher by 4.90 per cent at Rs. 420.90 and Bajaj Auto was up 1.89 per cent at Rs. 3,167 while M&M gained 1.38 per cent to Rs. 1,271.

The benchmark Sensex rose as much as 332 points to hit the day's high of 31,615.28 points.

The Monetary Policy Committee headed by RBI governor Urjit Patel started two-day deliberations on Tuesday with industry and the government hoping for interest rate cut to spur growth which fell to 3-year low of 5.7 per cent in the June quarter, while experts expect status quo. This has led to unabated buying by domestic financial institutions, which added to the positive mood.

SBI life insurance is a subsidiary of the State Bank of India, that India's first billion dollar IPO worth Rs 8,400 crore in September.

Key indices opened in green after three days on Tuesday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) also made gains.

Among the sectoral indices, the S&P BSE consumer durables gained 2.2 percent followed by energy 1.5 percent and auto index 0.8 percent. Among the major gainers' Motors, Dr Reddy's and Sun Pharma were the top gainers.



Like this

loading...
loading...

Latest


03 October 2017
Illini make a change at QB for Hawkeyes
So far this season, he only has two 100-yard passing games and hasn't thrown a touchdown since Week One against Ball State. IL coach Lovie Smith said today that Jeff George Jr . will start at quarterback against Iowa on Saturday.

03 October 2017
US Supreme Court Will Hear Arguments For Gerrymandering Case
Supreme Court justices have agreed in theory that extreme political gerrymanders are incompatible with democratic principles. Whitfford , the court could potentially decide that they're not going to hear partisan gerrymander cases ever again".

03 October 2017
Tommy Heinsohn makes uncomfortable comment about Aron Baynes
Now, we're not exactly sure what Heinsohn meant when he said Baynes "is really put together", but we think we have a decent idea. In particular, Heinsohn wanted to talk about Baynes' large body frame, and well, things took a pretty weird turn.

03 October 2017
MP joins call to halt Universal Credit rollout
Ministers were instructing JobCentre staff to point people proactively to available loan arrangements, he said. Citizens Advice Bureau says universal credit is "failing too many people and forcing many into debt".

03 October 2017
Honeypreet Insan Traced, Asks 'Can't a Father Love His Daughter'
There were talks that she had fled to Nepal after Dera chief Ram Rahim was convicted of rape and sent to Rohtak jail. The bail petition of Honeypreet, whose real name is Priyanka Taneja, was however rejected by the High Court.

03 October 2017
Mitchell Starc, Josh Hazlewood on track for Ashes comeback
With the Australian cricket team getting battered in India, all eyes will be on the Ashes team selection. Rohit Sharma hammered a 14th ODI century as India wrapped up a 4-1 series win over Australia in Nagpur.

03 October 2017
Allegiant offering free flights to victims, family impacted by Las Vegas Shooting
Allegiant Airlines is offering families of victims of the Las Vegas shooting victims a way to get to their loved ones quickly. You can find all the routes to and from Las Vegas on Allegiant's website and contact them via email.

03 October 2017
Comprehensive Stock Analysis Of Genworth Financial, Inc. (GNW)
It is negative, as 38 investors sold CME shares while 226 reduced holdings. 35,834 were accumulated by First Allied Advisory Ser. The Company offers individual and group long-term care insurance products to meet consumer needs for long-term care.

03 October 2017
Conor McGregor Irish dancing at his communion is gas
McGregor also argues that Byrd stopped the fight too early, especially since he hurt Mayweather just one round earlier. But McGregor has reiterated his frustration and feels the fight was unfairly handled by official Robert Byrd .

03 October 2017
Bitcoin Prices Steady After South Korea ICO Ban
Elsewhere in cryptocurrency trading, the second biggest cryptocurrency by market cap after bitcoin, slipped 0.83% to $302.01. There have been several instances in Pakistan when the government warned Bitcoin users against cryptocurrency scams.